Sectors like BFSI and healthcare have emerged as pivotal growth avenues for endpoint security market, as they have begun to deploy the system in the dynamically changing customer and patient scenario. In fact, the financial institution demands the maintenance of strong web security. Consequently, the BFSI sector has turned to employ multilayered security to provide robust solutions against impending threats.
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Endpoint security has become a major layer of security as it is software based and is targeted towards user devices like laptops, computers, smartphones and tablets. Therefore, the government has also enforced stringent norms to protect financial data, urging institutions to adopt such a host-based solution. This indeed led the BFSI sector to hold the largest share in endpoint security market in 2016 and lay the groundwork for further progress over 2017-2024.
Endpoint security market, tagged as a revolutionary subset of the smart technology space, seems to have garnered the status of a niche vertical in the recent years. This growth can be precisely attributed to the fact that malware attacks have gained ferocity in stealing identities, draining bank accounts and generally bringing services to a standstill. In May 2017 for instance, a colossal cyberattack sealed down files and badly affected businesses, government bodies and the National Health Service of UK. Unfortunately, NHS back then, was still using an outdated version of the Windows operating system, the consequence of which led to MHS paying a heavy ransom in the form of bitcoins to retrieve the files.
This revolutionary cyberattack which was later named WannaCry was an eye opener for the IT sector, which rapidly deduced that such attacks will only become more commonplace in the future if nothing definite and foolproof is done to thwart their onslaught. While numerous other incidences have served as focal drivers, this particular event was speculated to have a direct impact on endpoint security market trends.
The latest trends in cybercrime rely heavily on social engineering, using legitimate software as cyber weapon, ranging from spam to phishing. Leading endpoint security market players like Symantec, Kaspersky, McAfee, Microsoft, Trend Micro, Comodo, Cisco, and Panda Security are therefore continually upgrading and expanding their scope through research and development programs to keep pace with the changing dynamics of cyber threats.
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For instance, Kaspersky Lab recently released its flagship product called Kaspersky Endpoint Security for Business, which included next generation threat detection, increased visibility and granular security controls like credential detection and vulnerability management. This provides an apt demonstration of the efforts being undertaken to innovate highly advanced and efficient products in this business space. As per estimates, endpoint security market size has been forecast to be pegged at $7.5 billion by 2024.
Major Key Points from Table of Content:
Chapter 7.Endpoint security market, By Application
7.1.Endpoint security market share by application, 2016 & 2024
7.2.1. BFSI market estimates and forecast, by software, 2013-2024
7.2.2. BFSI market estimates and forecast, by service, 2013-2024
7.3.Telecom & IT
7.3.1. Telecom & IT market estimates and forecast, by software, 2013-2024
7.3.2. Telecom & IT market estimates and forecast, by service, 2013-2024
7.4.1. Retail market estimates and forecast, by software, 2013-2024
7.4.2. Retail market estimates and forecast, by service, 2013-2024
7.5.1. Healthcare market estimates and forecast, by software, 2013-2024
7.5.2. Healthcare market estimates and forecast, by service, 2013-2024
7.6.Government and public sector
7.6.1. Government and public-sector market estimates and forecast, by software, 2013-2024
7.6.2. Government and public-sector market estimates and forecast, by service, 2013-2024
7.7.1. Education market estimates and forecast, by software, 2013-2024
7.7.2. Education market estimates and forecast, by service, 2013-2024
7.8.1. Transportation market estimates and forecast, by software, 2013-2024
7.8.2. Transportation market estimates and forecast, by service, 2013-2024
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